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European venture capital firm Hero Capital today announced its second fund for the Games. The fund, called Hero Capital II, totals 300 million (approximately $ 340 million). According to Hero, the fund aims to support new gaming and metavers-based ventures.
Hero has launched this second fund in three years. The fund’s predecessor, Hiro Capital 1, was launched in 2019 with 115 million (approximately $ 130 million). According to Hero, the first fund made 21 investments, including Studio Polyark, Flavorworks, Keane, Snowprint and Happy Volcano.
According to Hero, the latest fund will “invest in Metawors Innovators with early-stage games and global potential.” He will invest in teams from Europe, the UK and North America.
Luke Alvarez, managing general partner and one of the founders of Hero Capital, said in a statement: “In 2022 we are at a critical juncture in the very early stages of Metavers, VR, AR and Web 3 – this revolution will take at least some time. Decades and most of the creativity and technological innovation will begin in sports. As a team, we have the experience and network to support the incredible talent we seek across Europe, the UK and beyond. Our new fund gives us more firepower to find and develop rising stars and level them globally.
Earlier this year, Hiro Capital 1 became the lead sponsor in Hiro Metaverse Acquisitions 1, which focused on SPAC gaming and metavers. SPAC has raised £ 115 million (approximately $ 150 million) from institutional investors.
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